News

Economist, business owners ponder San Bernardino's economic future - San Jose Mercury News

07/16/12

SAN BERNARDINO - A regional economist and city business owners pondered the potential impacts the city's looming bankruptcy filing will have on the already distressed business climate and economy. City officials announced Tuesday they would be ...

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Nebraska, Not California, is King of Municipal Collapse - Bloomberg

07/16/12

The three states share the regulatory confluence of strong restrictions on revenue-raising and low bars on bankruptcy filing. In California, five of its 39 Chapter 9 petitions were made by cities or counties: Orange County in 1994, and the ...

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Shaw Gussis, Kirkland, DLA Piper: Business of Law - Bloomberg

07/16/12

said his client needed time and a number of critical employees to complete work that was in progress when the firm filed for bankruptcy on July 10. There were “numerous transactions in the middle of being executed” at the time of filing ...

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Shaw Gussis, Kirkland, DLA Piper: Business of Law - Bloomberg

07/16/12

The bankruptcy case is Peregrine Financial Group Inc., 12- 27488, U.S. Bankruptcy Court, Northern District of Illinois (Chicago). The regulatory case is U.S. Commodity Futures Trading Commission v. Peregrine Financial Group Inc., 12-cv-5383 ...

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Editorial: California cities’ bankruptcy a cautionary tale for Texas - Dallas Morning News

07/15/12

Also, Scranton, Pa., Mayor Chris Doherty has tried to unilaterally slash city worker pay to the federal minimum wage, instead of filing for bankruptcy. Who’s next: Several other cities, most prominently Detroit, face seemingly insurmountable ...

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Bankruptcy doesn’t mean student loans are canceled - Miami Herald

07/15/12

The federal bankruptcy law allowed student loans that had been in pay status for seven years to be eligible for a Chapter 7 discharge. But that loophole was closed, and student loans became non-dischargeable unless the borrower could prove undue hardship.

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Bankruptcy doesn’t mean student loans are canceled - Miami Herald

07/15/12

Our largest debts are unpaid student loans. We’re thinking about filing for bankruptcy to wipe them out. We’ve received conflicting opinions. It sounds too good to be true. Is it legally allowed? Doubtful debtors If you had asked this ...

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Judge OKs sale of Hunter Marine in bankruptcy plan - Gatorsports.com

07/15/12

A Palmetto yacht builder is in the process of buying Alachua sailboat manufacturer Hunter Marine Corp. and other assets of Morgan Industries Corp. through bankruptcy proceedings. A judge for the U.S. Bankruptcy Court in New Jersey approved the ...

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Ex-All Star Lenny Dykstra pleads guilty in court to bankruptcy charges - FanIQ

07/15/12

Lenny Dykstra has already been convicted and had a number of counts dropped over the years, but the recent case regarding fooling authorities after filing bankruptcy. Hence, Lenny Dykstra chose the path to possibly 20-year in prison after pleading guilty ...

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Bankruptcy choices highlight fiscal pain of cities nationwide - Los Angeles Times

07/15/12

investment bank Houlihan Lokey organized a three-city tour of a dramatic presentation depicting scenes from a municipal bankruptcy, with lawyers and bankers playing the parts of city officials. "Restructuring the Troubled Municipality — A Case Study" was ...

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